Last Close: August 7, 2009 - $0.115
Shares Issued: 61,586,627
CALGARY, Aug. 10 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf" or
the "Company") is pleased to announce that it received revenue during the
month of July totaling $193,491 Cdn (1,220,930 Rmb) and was received in
connection with the following:
Hunan Organic Fertilizer Plant
In July the Company shipped 257.80 tons of fish meal at a purchase price
of approximately $402 Cdn (2,540 Rmb) per ton for total revenue of
approximately $103,773 Cdn (654,812 Rmb). The fish meal was shipped as
- 30.00 tons to the 2nd Xihu Fish Farm owned by Hunan Dongting
Aquaculture Co. Ltd.;
- 73.80 tons to Qili Lake Fish Farm, Jin City, Hunan;
- 45.00 tons to Baimin Lake Fish Farm, Li County, Hunan; and
- 109.00 tons of sales to non-contracted customers.
Inner Mongolia Greenhouse
In July the Company shipped 717,500 seedlings at a purchase price range of
approximately $0.08-0.13 Cdn (0.50-0.80 Rmb) for total revenue of
approximately $88,708 Cdn (559,750 Rmb). The seedlings were shipped as
- 300,000 blue spruce to Zhouquan Village, Zuoyun County, Shanxi;
- 250,000 blue spruce to Baotou Guyang Forestry Bureau;
- 120,000 blue spruce to a non-contracted customer in Ordos, Inner
- 47,500 jack pine to a non-contracted customer in Huhehaote.
Xinjiang Alfalfa Operation
No alfalfa shipments were made during July and no revenues were received
from the Alfalfa Operation. The Company expects to make its next shipments
during the month of August.
Raymond Lai, President & CEO of Maple Leaf comments, "We are pleased that
we have now had four consecutive months of meaningful revenue. Although our
net revenue in Canadian dollars decreased from June to July, this was
primarily due to a significant increase in the value of the Canadian dollar in
relation to the Rmb. We are hopeful that our current efforts to raise
additional working capital will allow us to ramp-up and receive meaningful
revenue from our Alfalfa Operation in August and going forward."
About Maple Leaf Reforestation Inc.
Maple Leaf is a Canadian company operating four environmental related
projects in China:
1. a large-scale forest nursery in Inner Mongolia which is focused on
growing value-added tree seedlings and alfalfa feedstock alongside
landscaping and nursery products;
2. a multi-faceted Xinjiang Yellowhorn tree project which will provide
for the manufacture of bio-diesel fuel and cooking oil and complement
the fabrication of the ever demanding nutritious alfalfa feedstock;
3. an organic fertilizer plant in the Hunan Province which will produce
environmentally friendly bio-organic fertilizer; and
4. a Flexi-Pipe distribution network to serve the oil and gas industry
and other renewable energy industries.
Maple Leaf is a wholly-owned foreign enterprise which allows Maple Leaf to
control 100% of the direction and operations of the company in China while
permitting the cash generated from operations in China to flow back to Canada.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Certain statements in this news release including (i) statements that may
contain words such as "anticipate", "could", "expect", "seek", "may" "intend",
"will", "believe", "should", "project", "forecast", "plan" and similar
expressions, including the negatives thereof, (ii) statements that are based
on current expectations and estimates about the markets in which Maple Leaf
operates and (iii) statements of belief, intentions and expectations about
developments, results and events that will or may occur in the future,
constitute "forward-looking statements" and are based on certain assumptions
and analysis made by Maple Leaf. Forward-looking statements in this news
release include, but are not limited to, statements with respect to future
capital expenditures, including the amount, nature and timing thereof; other
development trends within the China's seedling industry; business strategy;
expansion and growth of Maple Leaf's business and operations and other such
matters. Such forward-looking statements are subject to important risks and
uncertainties, which are difficult to predict and that may affect Maple Leaf's
operations, including, but are not limited to: the impact of general economic
conditions; industry conditions; government and regulatory developments;
seedling product supply and demand; competition; and Maple Leaf's ability to
attract and retain qualified personnel. Maple Leaf's actual results,
performance or achievements could differ materially from those expressed in,
or implied by, these forward-looking statements and, accordingly, no assurance
can be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do transpire or occur,
what benefits Maple Leaf will derive there from.
Maple Leaf has stated that it hopes to raise funds through its ongoing
financing efforts so that it can ramp-up and receive meaningful revenue from
its Alfalfa Operation in August and going forward. There is no guarantee that
Maple Leaf will be able to secure additional working capital through its
efforts and therefore cannot guarantee that its Alfalfa Operation will ramp-up
and provide meaningful revenue in August or at any time going forward.
Maple Leaf maintains a forward-looking statement database which is
reviewed by management on a regular basis to ensure that no material change
has occurred with respect to such forecasts. The Company will publicly
disclose such material changes to its forward-looking statements as soon as
they are known to management.
For further information:
For further information: regarding Maple Leaf Reforestation Inc., visit
www.mlreforestation.com or contact: Maple Leaf Reforestation Inc., Raymond
Lai, Chairman, President & CEO, Tel: (403) 668-7560, Fax: (403) 250-2534,